Archive for November, 2009

One tragic consequence of the downturn in the US economy triggered by the 2008 financial crisis was an increase in the number of people in or on the edge of poverty in the United States. As we just saw, unemployment stood at 10.2% officially in November, and was likely over 17% by then if you […] read more »

The recession hit pensions and pensioners hard. It led the administration to estimate that the Social Security fund would be exhausted four years earlier than previously thought – that is, by 2037 (this in The New York Times May 13 2009). It put the public pension schemes for teachers, police officers and other government employees […] read more »

The Issues Over 2009 as a whole progressed, a potential consensus emerged on what President Obama referred to as at least 80 percent of what was needed: no denial of coverage because of pre-existing medical condition, help to the low paid and the small business sector to buy basic health care for themselves and their […] read more »

Bailing out the Auto Industry? Also heavily in dispute throughout 2009 was the Obama administration’s limited bailout of the US auto industry. Both Chrysler and GM briefly went into Chapter 11 bankruptcy in the early summer of 2009, to facilitate a restructuring the bulk of whose painful downside was borne by the companies’ workers and […] read more »